News

LONDON, ON--(August 04, 2015) - Critical Outcome Technologies Inc. (COT:CA) (COTQF) ("COTI" or the "Company") announced today that it completed the final tranche of its previously announced non-brokered private placement with the issuance of 2,788,533 units (the "Units") at a price of $0.30 per Unit for gross Canadian dollar proceeds of approximately $837,000. In aggregate, the Company raised gross Canadian proceeds from the offering of approximately $1,287,000 through the sale of 4,288,533 Units.

"We are very appreciative of the investor support we continue to receive in advance of our upcoming clinical trial for COTI-2 in p53-dependent cancers," said Dr. Wayne Danter, President & Chief Executive Officer. "We believe this Phase 1 clinical trial in gynecological cancers at MD Anderson Cancer Centre will be a major risk reduction and value creating event for this asset, the Company and for patients."

Each Unit consisted of one common share and one half warrant of the Company. Each whole warrant is exercisable for one common share of the Company at an exercise price of $0.42 per share for a period of 24 months from the date of issue. The Company paid finders' fees to arm's length third parties in connection with this tranche in the amount of $23,706 in cash and issued 79,020 compensation warrants. Each compensation warrant is exercisable into one common share of the Company at an exercise price of $0.315 per share for a period of 24 months from the date of issue. The expiration dates of the warrants and compensation warrants are subject to acceleration by the Company in certain circumstances.

The common shares and warrants issued by the Company under the offering are subject to restrictions on resale in accordance with applicable securities laws and the policies of the TSX Venture Exchange. These restrictions will expire on December 1, 2015 for the securities issued in this tranche. The offering is subject to final acceptance by the TSX Venture Exchange.

About Critical Outcome Technologies Inc. (COTI)

COTI is a biopharmaceutical company that discovered COTI 2 using its proprietary artificial intelligence platform, CHEMSAS®. CHEMSAS® utilizes a series of predictive computer models to identify compounds with a high probability of being successfully developed from disease specific drug discovery through chemical optimization and preclinical testing. These compounds are targeted for a variety of diseases, particularly those for which current treatments are either lacking or ineffective.

Information contained in this press release may contain certain statements, which constitute "forward-looking statements" as such term is defined under applicable securities laws. For example, the statement, "We believe this Phase 1 clinical trial in gynecological cancers at MD Anderson Cancer Centre will be a major risk reduction and value creating event for this asset, the Company and for patients" is a forward-looking statement. Forward‐looking statements by their nature are not guarantees of future performance and are based upon management's current expectations, estimates, projections and assumptions. COTI operates in a highly competitive environment that involves significant risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward‐looking statements. Management of COTI considers the assumptions on which these forward‐looking statements are based to be reasonable, but as a result of the many risk factors, cautions the reader that actual results could differ materially from those expressed or implied in these forward-looking statements. Information in this press release should be considered accurate only as of the date of the release and may be superseded by more recent information disclosed in later press releases, filings with the securities regulatory authorities or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

DISCLOSURE:
The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

GTX Corp, along with its subsidiaries, is engaged in design, development, manufacturing, distribution and sales of products and services in the GPS and BLE wearable technology personal location and wandering…